ASX-listed explorer, Venus Metals, has successfully farmed out the Curara Well gold project in WA to AIC Mines but maintains a minority interest in the highly prospective joint venture ground that lies in the vicinity of existing successful gold and copper-gold mines.
Venus now holds a 20 per cent interest in Curara Well, about 170km north-east of Meekatharra, that is free carried through to a decision to mine.
The Curara Well JV tenement holdings are located immediately south of Superior Gold’s Plutonic gold mine and north-east of Sandfire Resources’ DeGrussa and Monty copper-gold mining operations.
Recent exploration by AIC has identified a significant, previously unrecognised DeGrussa-Monty-style multi-element surface geochemical anomaly at the Curara Well project.
The anomaly has not been drill-tested before and according to the Perth-based AIC, represents a walk-up drill target. It is hoping to be drilling the target in the December quarter, subject to approvals and the availability of drill rigs which are currently in high demand.
The company is also looking to do more surface sampling at the project in order to better understand the extent of the surface expression of the mineralisation.
In the meantime, Venus and JV partner Rox Resources have been focused on advancing the historic Youanmi gold project south of Sandstone where gold mineralisation continues to be encountered in the Youanmi granite zones as the partners pepper the area with RC holes.
The exciting Grace discovery has returned notable intersections from recent drilling including 2m going 12.31 grams per tonne gold from 195m and 4m at 5.01 g/t from 173m within a broader mineralised zone of 25m grading 2.39 g/t from 173m and 24m at 1.04 g/t from 145m.
According to the dynamic duo, it appears the mineralisation continues down-dip from the previous bonanza hit at Grace of 25m grading 34.79 g/t from 143m.
Venus and Rox have now delineated a mineralised corridor within the Youanmi granite of up to 1.5km to the north of the historical mine’s infrastructure and along a strike length of 2.5km.
The discovery of what looks to be free milling gold in the granite is challenging the traditional view of the Youanmi area as hosting mostly the more difficult-to-treat refractory or sulphide ore for which it is historically recognised.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
